Forum Replies Created
Breece,
today i chatted with a Town Planner from Knox City council.
She said :
– there are no overlays (good thing).
– single level dwellings more likely to be passed.
– i'd need to prepare a pre-application form ($90) to see if there are any obvious immediate obstacles to any development plans.
– even though there are multi unit developments on street they may have been approved prior to current level of restrictions for approval (she was thinking aloud) and said she would have to look into each approval separately, but was willing to go through it with me.
She talked about Claws55..still have no idea after her brief explanation (strong celtic accent)
Cheers,
Bosco
Breece,
very sobering info.
My land is 775msq. I will now not divide it in 3.
My amended goals are:
Plan A: Keep existing bv home and build at the rear (either single or double level home whichever is more likely to be passed by council.
Plan B: Knock down existing house and build 2 single level homes or 2 double level townhouses.
Cheers, and thanks for your advice.
Bosco
DWolfe,
thanks for your post and advice, its much appreciated, as for all contributors.
1. What is a contribution fee, and 8.5pc of what?
2. My house is in Aisbett Ave (behind the Shopping Centre)…does this make it any easier to develop on this land?
3. My prop had dual occ. potential, so i wont necessarily need to bulldoze existing bv home.
Also, a correction on my previous post: the property is currently Residential 3 Zone.
Thanks again,
Bosco
not sure about construction costs. I only know some basic figures. Just standard quality, so maybe 10K/sq
But i dont know how many squares per unit/townhouse. If i want either unit or townhouse to have 3bdr and 2 bathr how many squares will that equate to?
Would it be cheaper to build x3 townhouses single story? Less for more.
I'm after the cheapest plan for max return.
As for construction cost vs resale value: I'm not so concerned with this because I'm not selling them for 20 years maybe never, but my aim is to choose a plan that will require the least capital.
the plan is to keep the properties once built and have them as a money stream.
Rental estimates based on current (similar) properties leased in this area suggests the following:
Plan A: 4×350 = 1,400pw = 72,800p.a.
Plan B: 3×450 = 1,350pw = 70,200p.a.
Before i bought the property council gave it the green light for development (zone 1)
Hi Nigel,
its in Wantirna South, 5min from Knox Shopping Centre.
Cheers,
Bosco
